My Queue

Your Queue is empty

Click on the next to articles to add them to your Queue

Small Business Encyclopedia

Encyclopedia Search

Terms starting with: l

Labor Laws

Definition: Laws that define the rights of employees in the United States and protect them from employer retaliation for exercising those legal rights or reporting violations to the proper authorities.

Last In, First Out (LIFO)

Definition: An accounting method for inventory and cost of sales in which the last items produced or purchased are assumed to be sold first; allows business owner to value inventory at the less expensive cost of the older inventory; typically used during times of high inflation

Lawsuit

Definition: A civil action brought in court of law in which a plaintiff seeks a legal remedy, such as damages

Leased Employees

Definition: Workers who are officially employed by a professional employer organization, which is responsible for overseeing all HR-related functions, but who actually perform all work for your company

Leases, Rental

Definition: An agreement between a landlord and a tenant that gives the tenant the right to use and occupy rental property for a period of time

Liability

Definition: Anything for which a company is legally bound or obligated, as to make good any loss or damage that occurs in a transaction

Liability Insurance

Definition: Insurance coverage that protects against claims against the insurance holder of property damage, personal injury, negligence and so on

Licensing

Definition: A business arrangement in which one company gives another company permission to manufacture its product for a specified payment

Life Insurance

Definition: An agreement that guarantees the payment of a stated amount of monetary benefits upon the death of the insured

Limited Liability Company

Definition: A form of business organization with the liability-shield advantages of a corporation and the flexibility and tax pass-through advantages of a partnership

Limited Liability Partnership

Definition: A business organization that allows limited partners to enjoy limited personal liability while general partners have unlimited personal liability

Link Exchange

Definition: The practice of exchanging links with other websites. You place another site's link on your site, usually on a links page, and in return, the other site places a link on their site back to you.

Loans

Definition: Money borrowed that is usually repaid with interest

Location

Definition: The physical space where your business exists

Logo

Definition: A recognizable graphic design element, often including a name, symbol or trademark, representing an organization or product

LowDoc

Definition: A special SBA 7(a) loan promising quick processing for amounts less than $150,000

Free Business Tools

Latest Articles

Business Moving Forward

4 Ways to Build Your Brand Ambassador Dream Team

Lyft, The Skimm and others have won followers and market share by attracting ambassadors happy to spread the word in their trusted circles.
Take It From The Pros

Want to Raise a Founder? Then Follow Through on Your Commitments.

People who bail on their plans or don't respect others' time rarely become either good leaders or good parents -- and certainly not effective ones.
worth-knowing

How to Turn Your Hobby Into a Career

Civia Caroline has worked with a long list of labels and artists including Maroon 5 and Jason Mraz. She sat down with Jessica Abo to talk about her new company and how you can turn your music hobby in...
Marketing

Why Your Marketing Doesn't Work and What to Do About It

If your campaigns keep failing, you might find the issues internally.
Inspiring Your Team

How Uber Proved That 1 Person Cannot Change a Company Culture

"Wife Appreciation Day" doesn't mean letting your spouse "take a day off from the kitchen."
Social Media

19 Tools for Creating Engaging Social Media Videos, Images and GIFs in Minutes

Creating social media content takes time. And creating great social media content takes even more time.
Customer Engagement

Always Look at a Product or Pitch From Your Customers' Perspective

Chuck Mullins of Quiet Light Brokerage talks about one of his best business tips.
Cannabis

Some Universities Offer Classes On Marijuana. LSU Plans to Grow It.

A number of prominent state universities have launched programs to prepare students for the legal cannabis industry.
Remote Workers

Three Ways to Launch (or Become) a Remote Company

Smart companies are designing remote working programs that fit their unique needs.
YouTube

How to Pick a Background for Your Online Videos

Find a setting that works for you and your content.
Retirement Planning

This Innocuous Sounding Phrase Is Actually a Mortal Threat to Your Retirement Planning

"Sequence of returns" is a bit of jargon you better understand if you want your money there when you really need it.
Marketing Strategies

How to Sell to Millennials? Be Radically Inclusive.

Express your diversity values and create an environment where employees and customers alike can do the same.
More Articles

About Encyclopedia

No matter what business topic you're interested in, you'll find our category list is an easy way to navigate our small-business encyclopedia. From Accounting and Advertising to Location and Operations, every topic offers information on the terms that matter most. And if you can't find what you need here, our "Terms A - Z" list makes tracking down terms a snap.